Empirical analysis of industry 4.0 and the circular economy in accelerating the SDGs in G20 economies

Sustainable Development Goals (SDGS) of the United Nations must be linked with technological advancement and sustainable economic practices. The study provides empirical evidence on how Industry 4.0 (I4.0) technologies and Circular Economy (CE) practices will facilitate faster achievement of the SDGs in G20 economies from 2000 to 2024. The research supports the synergistic effect of I4.0 and CE on sustainability by using panel data analysis by industry and region. The results indicate that integrating I4.0 technologies, including internet usage by individuals, importing ICT goods, exporting high technology products, and manufacturing advanced products, alongside CE principles, leads to high resource utilisation, reduced environmental impacts, and increased innovation. The empirical data demonstrate that Industry 4.0 technology-driven transformations and circular economy practices can enhance sustainability performance, as measured by Adjusted Net Savings, in G20 economies. Digital variables such as internet utilisation, ICT imports, and resource-related sustainable decisions like renewable energy adoption are positively associated with sustainability outcomes- highlighting the synergy between digitalisation and environmental sustainability towards SDGS 7, 9, 12, and 13. To ensure effective integration of technology and CE, policy recommendations include developing more robust digital infrastructure, offering rebates with sustainability-related incentives, and establishing standards for assessment. These efforts by G20 countries should be coordinated with other initiatives, such as the G20 Osaka Blue Ocean Vision and G20 Sustainable Finance Roadmap. Such strategic arrangements can foster green, inclusive development and accelerate the realisation of the SDGS.